Rite Aid as i'm sure many of you know, is a pharmacy/convenience store with over 2,000 stores across the US. They are currently a $2.5 stock valued at $143M. The current ongoing issues with this company is the long-term debt set to mature in July 2025 (2 years from now) as well as some legal issues with selling opiods. What's interesting is that last year around this time Spear Point Capital Management offered to buy Rite Aid for $14.60 a share ($800M) and Rite Aid rejected this takeover bid. Since then, the company has plummeted to $2.5/share and the short interest is now at 25% make it one of the most shorted stocks in the market. I don't think much has changed since the takeover offer and think there is potential for Rite Aid to go back to that takeover price of $14/share or higher. Rite Aid is a staple amongst pharmaceutical/grocery stores, i'm sure many of you shop there and i don't think they are going away anytime soon despite having long-term debt maturing in 2025 (likely to get extended out).
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